Commercial shophouse at 21 New Bridge Road on sale for $18.5 mil

A commercial shophouse located at 21 New Bridge Road is currently being offered on the market for $18.5 million. Composed on a 1,443 square feet plot of land, the conservation shophouse will be sold through an expression of interest exercise handled by real estate company Huttons Asia. This will close on September 5th.

The shophouse boasts of a 5.5 meter street-level frontage and a recently topped-up 99-year land lease starting in December 2021. With additional changes and alterations, the built-up area of the property will reach an impressive 5,041.8 square feet. This means that the guide price of $18.5 million translates to an impressive $3,669 per square foot. Restaurant use is also allowed on the ground floor.

Particularly attractive is the prominent pedestrian visibility the shophouse enjoys, only 100 metres away from the Clarke Quay MRT station on the North-East Line. Additionally, public car parks in the vicinity helps to increase the footfall in the area, further bolstering prices and rents. This is according to Jeremy Lim, associate senior group district director of Huttons Asia.

For dining and entertainment, Orchard Boulevard Condo enjoys a wide variety of cafes, restaurants, bars, and theaters just steps away. Residents can also delight in the lush greenery that the city offers, with nearby parks and gardens providing excellent natural vistas. With its vibrant surroundings and luxury facilities, Orchard Boulevard Condo is the perfect choice for those in search of a premier lifestyle in Singapore’s city centre.

As Lee Sze Teck, senior director of data analytics at Huttons Asia, shared, “The doubling in ABSD for foreigners buying residential properties and new control measures on land zoned for commercial and residential use have sent a clear signal to the market”. Furthermore, foreigners are expected to show more interest in commercial properties and commercial zoned shophouses in the second half of 2023.